India is home to 4000+ Edtechs including startups and mature companies and the industry is expected to reach US$ 4 billion by 2025 at a CAGR of 39.77%. But the growth also means clutter and clutter eventually accelerates competition.
There are no two thoughts about the fact that the growing camaraderie between private technology players and traditional educational institutions/universities has been changing the way India Inc learns, but it is critical for us to understand that Edtechs or online education is not just about learning virtually. It's about ensuring every participant/learner is hooked to the content till the end so that they could derive desired career outcome. This is where skilling giants like upGrad are leading from the front.
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Let's talk about Higher education and Adult Learning segments where tangible career ROI reflects more prominently than other sub-segments.
In the last 8 years, the brand has invested heavily to build a robust platform and learning ecosystem that minimises dropouts and encourages experiential learning. But it wasn't easy! We had our fair share of challenges when we started off, mostly tech-oriented but we improved over the years and today upGrad platform can host a million logins at a time and work on a low-bandwidth internet connection as well to support the uninterrupted flow of education. The DNA with which upGrad was brought to life and is still growing stronger is the obsession to make the global workforce skill-able and job ready. This commitment to driving career outcomes for our learners made us work pillar-to-post to develop capabilities, both human and tech-led that can handhold every single learner in their learning journey, assist them with academic and non-academic queries and motivate them to achieve enhanced career growth. We maintain a program completion record of 85%+ which still remains exceptional across the ecosystem and our repeats & referrals are about 35-40%, which also makes the popular among our learners and their communities. upGrad very recently, closed FY23 with over 22,000 placements in a single year with the lowest CTC hike of INR 6LPA to a high of INR 2.5 crore p.a.
A 4-step upGrad intervention to support nation building
The first 50% to build a foundation: This indeed, is the most important segment where learners connect 1:1 with our mentors and coaches to discuss their existing skill competencies and career aspirations. It helps upGrad to make skill assessments and curate a personalised learning journey for every learner to also guide them to make an informed/sound learning decision. upGrad boasts a powerful panel of 5500+ SMEs, mentors and career coaches who are deeply connected within the current job market. These industry leaders work with large corporates, national or international universities. We have recorded a 133% increase in counselling sessions since 2020, with nearly 90,000 sessions scheduled just in CY2022.
The second half to accelerate learning: This, we call the heart of the learning journey because of the actual theories and experiential learning formats it encourages. Once the career aspiration and skill competencies are mapped, learners engage directly with upGrad-branded Bootcamps or university-led courses backed by rigorous curriculum including live or recorded lectures, SME live sessions, specialisation tracks to enhance the foundation, assignments or case studies, practical training and even offline immersion campus tours. We realise that a Data Science or AI & ML or Python or any other course for that matter is not a web series and might distract learners midway. This is where upGrad buddy handholds learners at every step since the beginning. They keep a sincere check on the learning progress and send them constant reminders if learners remained inactive for more than a week.
Next up is career-building: This is where we lay building blocks for a progressive career trajectory. We feel that just completing any course or assignment is not enough to get an edge, it's a constant process of acquiring a combination of hard & 'power' skills, also known as the soft skills, that equip professionals or freshers with relevant know-how of the job market, and that's what makes our learners also stand out amongst the rest. We encourage career coaching and counselling and provide our learners with resume building, mock interviews, career guidance, selection of career path, profile building, and assistance in placement opportunities to name a few. All of these put together, makes a stronger learning experience for our learners and enhance their employability quotient.
A career commitment of a lifetime is what we encourage: The last leg of our services gets activated once the learners have completed their journey with us. We understand that the market is evolving rapidly, and professionals of today would need frequent learning top-ups to ensure their skills are refreshed to match the market requirements. Therefore, we host a bunch of learning initiatives in the form of masterclasses or webinars with industry leaders, offline networking opportunities with peers and counselling sessions for future learning requirements. 35-40% of total company revenue is realised via Repeats & Referrals year-on-year which in a way, is a testament to the sincerity we drive; it's not just about learning but supporting in their LifeLongLearning journey.
Some of the other Human-led CX and Tech layers that have been helping upGrad emerge as a market leader:
A) upGrad recognises the importance of interpersonal relationships in developing a personalised and fulfilling learning experience. The following significant initiatives demonstrate our dedication to human-led support:
- A Wide-Ranging Expert Network: upGrad provides a variety of learning options owing to its network of over 5,500 active Subject Matter Experts (SMEs), Mentors, and Coaches. The possibilities available to learners include live sessions, individualised industry sessions, one-on-one mentoring sessions, grading, and more. At every stage of their educational journey, students are certain to get professional help due to this broad support system.
- Focused Mentorship: upGrad places a lot of emphasis on mentoring sessions to successfully guide learners. Mentors take the time to comprehend learners' skill competencies and career objectives, empowering them to make wise career decisions. Since 2020, the number of counselling sessions has increased dramatically, rising by 133% to around 90,000 sessions in 2022.
- Comprehensive career development services: These are provided by upGrad, which include career coaching, tailored industry sessions, mentorship, and just-in-time (JIT) sessions. These services equip students with the knowledge and abilities they need to succeed in their chosen industries. Furthermore, learners have access to specialised work prospects due to upGrad's committed placement help.
B) upGrad understands the importance of leveraging technology to enhance the learning experience. By combining human expertise with innovative product features, we are ensuring an engaging and effective educational journey.
- Live and recorded learning: UpGrad provided 11 million learning hours in 2022, including 2.5 million hours of live sessions. The technology has evolved to provide a seamless transition from recorded content and evaluations to live interactive sessions, supporting upGrad's learning methodology. This strategy creates a lively and interesting learning environment.
- Career Centre: UpGrad established an internal platform called the Career Centre with the goal of assisting students in discovering, preparing for, and applying for exclusive job opportunities. By offering extensive tools and support to help learners make successful career transitions, this platform acts as a bridge between students and the careers they desire.
C) Technology is the backbone of upGrad, and we believe in constantly upgrading our product offerings to ensure our pedagogy makes our learners industry and job-ready.
- Academic Planner: The Academic Planner is a comprehensive tool that enables students to schedule and organise their weekly assignments in one location. This function encourages efficient time management and assists students in maintaining structure throughout their academic careers.
- Real-time responses to learner queries are provided by Budd-E, an AI-powered conversational bot. Instant support, direction, and clarification are readily accessible to learners, boosting their learning experience through the elimination of obstacles and encouraging constant enhancement.
- upGrad Live - a Dynamic Classroom Experience: Both novices and seasoned professionals can benefit from upGrad Live's dynamic and interesting classroom setting. With a Data Saver mode, students can take part in live classes even with spotty internet, guaranteeing continuous access to important instructional resources.
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